Everyone wants a great deal....and a great deal on a home is even better...here's a little story about how to be exceptionally happy about the money you save when buying a home.
Just a few months after I graduated High School I had a job, rented a nice apartment...and felt pretty good about myself....I was paying the princely sum of $215 a month for a furnished one-bedroom place in a decent part of town.
Things were going great until I came back to my parents house and was talking with my dad....that's when I learned that he was paying $160 a month for a house payment on an 1800+ sf ranch style home with a pool, and a a view to die for!!!
It was hard to accept that he could get so much more for so much less....how did that happen???
The answer is absolutely simple...12 years...and a lot of inflation....which sounds a lot like what is about to happen once again...just a little word to the wise!
My dad bought his home in 1966...I moved out in 1978...in the twelve intervening years there were two recessions and two periods of high inflation...the house payment that was all he could afford in 1966 became almost a utility bill in 1978.
This whole scenario is about to play itself out one more time....If you're renting right now please think about this.,...there really is a way to pay pennies on the dollar for real estate....it's called buy and hold!
Not too sexy...Not too exciting...but just about guaranteed to work
Don't let the doom and gloomer's get you down...everyone wants to live indoors.,.and always will...it may be difficult to buy right now...but the long term rewards are GREAT!!...sacrifices you make today pay huge dividends in a few years!
Comments(6)